Jubilee Debt Campaign Birmingham

Posts Tagged ‘Debt Crisis

In an article in the Guardian of 9th October John Sentamu, Archbishop of York, calls for a new Jubilee.


He points out that today the poorest in our society – in the richer nations as well as the poorer – are suffering the most from a financial crisis caused for the most part by the greed and speculation of the wealthy. He argues that a new Jubilee today requires lenders and borrowers jointly to share risk so that the burden of debt is shared

Second, governments should reckon to raise funds not just by borrowing but progressive taxes, including those for companies and investors. Thirdly there must be rules for financial markets to work better. Regulation of capital flows should help to shift money from being a means of speculation to that of exchanging goods.

Points that are covered in jubilee for Justice

Add you support and read the article  in full

Rev John Nightingale Chairman of Jubilee Debt campaign Birmingham group



Faith leaders are being invited to sign a very special letter that will be delivered to the Prime Minister calling for action in this Jubilee year.
Hundreds of members of very diverse communities are also signing a petition that is then being linked to form a very distinctive white chain. Both are pictured above.

If you would like to take part do get in touch www.jdcmultifaith.org

By coincidence it is 14 years since the “Human Chain” was formed around the G8 leaders in Birmingham. That action first drew world attention to the evil of debt and its links to global poverty. Now we have Europe too involved in the harsh reality of debt repayment. Jubilee can have a serious side by calling for debt cancellation.

Amongst all the bunting, jelly and cakes please take time to sign our petition or the letter if you are a faith leader.

Many thanks

Audrey Miller

The International Monetary Fund(  IMF) is sitting on $2.8 billion of cash.

It has just sold off some of its extensive gold stock. Now it has to decide what to do with this windfall.I hope you can help them decide.

Please  tell  them to  use it for the good of the world poorest countries by cancelling the debts. After all the Fund is doing so well that they are even discussing refurbishing their already-opulent headquarters. What a waste that would be when the gap between rich and poor is such a concern for all.

The IMF’s extra $2.8 billion in gold windfall provides an opportunity to assist impoverished countries and their citizens without creating new debt burdens.

Sign the petition today and JUBILEEE USA will deliver your signature at the IMF/World Bank Spring Meetings in Washington, DC, April 15-17.

Thank you for taking action,

A long time campaigner of Jubilee 2000 and JDC has penned this thoughtful piece to promote some discussion amongst our readers. Please add your comments or even send in longer contributions on how the problem should be addressed.

When the great financial crisis struck in ’08, we hoped the meltdown would make way for a global change of direction – the poorest countries would finally be dealt with honourably and justly, and thousands of new jobs would be created worldwide to usher in an exciting age of renewable energy. Instead, apart from a very small bit more regulation of the banks, it’s basically back to the same old ways – the poor are still getting poorer, the rich richer, and care for the planet was thrown out at Copenhagen.

How have we let this happen?

93,100 people, a mere 9% the world’s richest, possess $3.5 trillion as spare money to invest and gamble on stock exchanges. When their gambling came unstuck, 4 million Americans had their homes repossessed. They live in tents while their houses stand empty and boarded up in what was the richest country in the world, and the rest of us bail out the banks. If we feel too hard hit, we need to remember that an extra 100 million in the poorest countries now struggle for life itself. Their $1 a day provides only the barest minimum food needed for survival, and nothing else.

Must we continue to let the small elites rule the rest of us for ever?

The world has been taken over by a money system that has run wild. It serves a global market that can only survive through continual growth, but it has no guiding ethics. Profit is the only rule, even if it devastates the lives and ecology of the world, and there are plenty of people at the top, ruthless and greedy enough to let that happen.

Is it time for a change?

The six major faiths of Birmingham have contributed to a documentary showing their concern for global poverty and seeking justice.

We launched the documentary for the project at our AGM on January 18th. Here it is

Birmingham born Stephen Rand Co- Chair of Jubilee Debt Campaign shares his thoughts on news of our latest Jubilee multifaith project

Stephen randOn Wednesday 18 November, at the heart of the national Inter Faith Week, Jubilee Debt Campaign will launch GLOBAL POVERTY, SEEKING JUSTICE – PEOPLE OF FAITH IN ACTION. This national project, based in Birmingham, will focus on building awareness and encouraging action on global poverty, with a particular focus on the issue of poor country debt.

I think this is a really significant initiative. There is a desperate need for further action on debt and global poverty. Faith communities and organisations have already played a vital role in the campaign; it’s time to build on past activities and engagement and together – in and through our faith communities, locally and nationally – raise awareness of the issues and speak out for justice.

The media often highlights the moments and places where religion is cause of division. That’s why I’m glad to be associated with something that sees people of different faiths recognising the common bond of humanity and the shared desire to combat poverty and seek justice.

We don’t have to compromise anything we believe in order to act together for the greater good; in fact the opposite is true. If people truly believe, seeking justice and caring about poverty and people who are poor is the highest priority.

The steering group for the project, which I chair, has representatives from the Buddhist, Christian, Hindu, Jewish, Muslim and Sikh communities. Salma Hamid is a member of the group, the Birmingham Coordinator for Islam Awareness Week, which shares the dates of Inter Faith Week. She says, “The theme for Islam Awareness Week 2009 is ‘Walk the Talk,’ about recognising our common humanity, celebrating our diversity and respecting each other. The Jubilee Debt campaign initiative is a great way to build links and get people to work together for the common good.”

Ever since 70,000 people formed a human chain around Birmingham in 1998, urging the G8 leaders to ‘Drop the Debt’, Birmingham – with its rich diversity of faith groups – has played a key role in the campaign. It makes me proud to be a Brummie!

The launch of the multi-faith project will be part of a meeting for Inter Faith Week to be held in The Bordesley Centre, Birmingham, at which representatives from the Buddhist, Christian, Hindu, Jewish, Muslim and Sikh communities will show how they are engaged with issues of world poverty.

I have no doubt that the campaign to Drop the Debt is one of the most significant global people movements in history. Much has been achieved – but much remains to be done. At a time of global economic crisis, people of faith taking action together to seek justice demonstrates that our common values can bring people together to make a difference on global poverty.

In those moments of bleak depression when campaigners wonder if politicians ever listen, I do debate  if its all a waste of time and then something like this from local MP Richard Burdon comes into my inbox and I give a huge cheer and my faith is restored. We are getting our message across to some.

“Lots of constituents have been in touch to let me know they support the campaign to ‘End the vulture culture‘ led by the Jubilee Debt Campaign. The campaign is calling for regulation of vulture funds to prevent them buying up the defaulted debts of poor countries and then sueing those countries for full repayment plus costs.It is internationally recognised that the debt burden of the poorest, most indebted poor countries has to be tackled if they are to set themselves on the path of sustainable growth, development and poverty reduction. The UK government has taken a lead role on debt relief over the last 12 years. It is important that the real progress that has been made goes towards reducing poverty in developing countries, not lost into the pockets of wealthy investors.

Earlier this year I signed a parliamentary motion calling on the government to regulate vulture funds and raised the issue directly with government ministers. Replying to my letter, the Treasury Minister Ian Pearson explained that the government is also concerned about these so-called vulture funds . He told me that the government thoroughly deplores the funds and has taken a leading role in combating the damage caused by their activities – by preventing debts from falling into the hands of such funds and helping countries to defend themselves.”

Richard Burdon MP

Now we wait to see if another local MP for Dudley  – Ian Pearson will respond to the thousands of  petition signings and letters he has received via the Treasury to take  the final  steps necessary. to outlaw the  vulture fund process.

This Black Country MP  and Treasury Minister Ian Pearson is in charge of taking the  all important decision about whether to turn the proposed new law into a priority for the next parliamentary session, by putting it into the Queen’s Speech on 18 November.

I await to see if  they did get the message or will I be going back into  despair of politicians ability to  listen to the plea for justice.

Audrey Miller

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This is the blog of the local group of the UK campaign calling for cancellation of international Debt.

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